Cargotec starts strategic cooperation with Rosmorport in Russia

Cargotec has signed an agreement of strategic cooperation with Rosmorport that coordinates Russian marine transport infrastructure development. The cooperation with Rosmorport improves Cargotec's possibilities for a high level dialogue about Russian marine transport infrastructure development and enables involvement in the information flow for regulation in Eurasian ports.

"Rosmorport cooperation is a high-level leverage for participating in ports' infrastructure development. This cooperation will also increase our opportunities to present our know-how in Russia," says Mikael Mäkinen, Cargotec's President and CEO.

"We are delighted to start this strategic cooperation with a leading and global company like Cargotec that has decades of firsthand knowledge of marine transport solutions. Their know-how of port automation will be very beneficial for us when we discuss Russian ports infrastructure development. This agreement shows that Russia is interested in cooperation with Finnish companies to modernize its port capacity. The Strategy of seaport infrastructure development in Russia until 2030 is aimed at doubling the port capacity within next tenyears. Therefore, cooperation with Finnish companies is an important step in the development of the industry," says Andrey Lavrishchev, General Director of FSUE Rosmorport. FSUE Rosmorport operates seaports of the Russian Federation, and has the world'slargest icebreaker fleet.

The documents for strategic co-operation was signed with the presence of the Russian and Finnish trade ministers, deputy prime minister Mr. Sergey B. Ivanov from Russia and minister for trade and European affairs of Finland Mr. Alexander Stubb.

"Russia is going to modernise its ports, especially on the Northeast Passage and Arctic region. Russia needs long term co-operation with trusted partners like Cargotec which has important knowhow in optimising harbour activities," says Mr. Ivanov.

Mr Ilkka Herlin, chairman of the board of directors of Cargotec stated that this co-operation is pleasing him very much because Russia has committed also to build ecological seaports and maritime infrastructure. Mr Herlin and Mr Ivanov discussed also the idea of organising Baltic Sea Action Summit in St Petersburg next year.

Cargotec improves the efficiency of cargo flows on land and at sea - wherever cargo is on the move. Cargotec's daughter brands, Hiab, Kalmar and MacGregor are recognised leaders in cargo and load handling solutions around the world. Cargotec's global network is positioned close to customers and offers extensive services that ensure the continuous, reliable and sustainable performance of equipment. Cargotec's sales totalled EUR 2.6 billion in 2010 and it employs approximately 11,000 people. Cargotec's class B shares are quoted on NASDAQ OMX Helsinki under symbol CGCBV. www.cargotec.com